$Nike (NKE.US)$ see chatgpt analysis of Nike 2nd Q 2024 sta...
$Nike(NKE.US$ see chatgpt analysis of Nike 2nd Q 2024 statment of income, also dun look so bad===>To analyze Nike's Q2 2024 statement of income, let's break down the key components and performance indicators:
### Income Statement Analysis for Q2 2024
#### Revenue
- **Total Revenue**: $13.39 billion, up by 0.55% year-over-year (YoY).
- **Operating Revenue**: Matches the total revenue at $13.39 billion, showing a slight increase of 0.55% YoY.
#### Costs and Expenses
- **Cost of Revenue**: $7.42 billion, down by 2.46% YoY. This decrease in the cost of revenue suggests improved cost management.
- **Gross Profit**: $5.97 billion, up by 4.55% YoY. The increase in gross profit indicates better profitability in core operations.
#### Operating Expenses
- **Operating Expense**: $4.15 billion, slightly up by 0.53% YoY.
- **Selling and Administrative Expenses**: $1.11 billion, up by 1.09% YoY.
- **Selling and Marketing Expense**: $1.11 billion, up by 1.09% YoY.
- **General and Administrative Expense**: Not specified for Q2, but for Q3, it was $3.22 billion with a 5.90% increase.
#### Operating Profit
- **Operating Profit**: $1.83 billion, up by 15.00% YoY. This significant increase suggests improved operational efficiency and cost control.
#### Non-Operating Items
- **Net Non-Operating Interest Income/Expense**: $22 million, significantly increased by 237.50% YoY.
- **Other Net Income/Expense**: $75 million, down by 5.06% YoY.
#### Net Income
- **Income Before Tax**: $1.92 billion, up by 16.48% YoY.
- **Income Tax**: $344 million, up by 7.84% YoY.
- **Net Income**: $1.58 billion, up by 18.56% YoY. This indicates strong overall profitability.
- **Net Income Attributable to Parent Company**: Same as net income, showing consistency in reporting.
#### Earnings Per Share (EPS)
- **Basic EPS**: $1.04, up by 22.35% YoY.
- **Diluted EPS**: $1.03, up by 21.18% YoY.
#### Dividend
- **Dividend Per Share**: $0.37, up by 8.82% YoY, reflecting consistent return to shareholders.
### Summary
Nike's Q2 2024 performance shows overall improvement in revenue, gross profit, operating profit, and net income. The company has managed to increase profitability while controlling costs, as seen by the decrease in cost of revenue and only a slight increase in operating expenses. The significant increases in EPS and net income indicate strong financial health and efficient operations.
### Impact on Stock Price
Despite the strong performance in Q2 2024, the recent stock price drop might have been influenced by factors such as weak sales guidance or broader market conditions. However, the robust financial indicators from this earnings report could positively influence the stock price in the near term if investors regain confidence in the company's growth and profitability prospects.
In conclusion, Nike's Q2 2024 financial performance appears solid, and the earnings report should have a favorable impact on the stock price next week if market sentiment aligns with the underlying financial health of the company.
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